Other Grant Related Provisions Sample Clauses

Other Grant Related Provisions. The Company represents that it has an adequate number of shares available under the KELTIP to grant the stock options and restricted stock provided in this Section 9 and the Initial Grant under Section 5. The Company further represents that it has amended the KELTIP: (i) subject to approval of its stockholders, to increase the annual fiscal year limit on stock option grants to any individual to a number adequate to make the grants provided hereunder; and (ii) to permit, subject to the approval of the Compensation and Nominating Committee, nonqualified stock options to be transferable to members of an employee's immediate family, to trusts solely for the benefit of such immediate family members and to partnerships in which such family members and/or trusts are the only partners. The Company agrees to submit the amendment of the annual fiscal year limit (the "Increased Limit") to the stockholders for their approval pursuant to the requirements of Section 162(m) of the Internal Revenue Code of 1986, as amended (the "Code"), at a meeting to be held prior to December 31, 1998. To the extent the grant of any stock options under this Section 9 or the Initial Grant under Section 5 would exceed the current annual fiscal year limit (prior to the amendment to the Increased Limit), such grant shall be subject to approval of the Increased Limit by the stockholders as provided in this Section 9(e). The grants shall be deemed granted in the following order for purposes of determining when the current annual fiscal year limit shall be exceeded and which options are subject to shareholder approval: Section 9(a), Section 9(b), the Initial Grant under Section 5. With regard to the grants under the KELTIP, the Company agrees to file and maintain effective a Form S-8 (or successor) registration statement.
Sample 1
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Related to Other Grant Related Provisions

  • Default Related Provisions Following the occurrence and continuance of an Event of Default beyond any applicable cure period hereunder, the Borrower shall deliver to Holder the Borrower’s stock purchase warrant, for the purchase of 21,930 shares of the Borrower’s common stock, on the same terms and conditions, and exercise price of $1.14 per share, as the Stock Purchase Warrant issued to Xxxxx Xxxxxx Revocable Trust concurrently with the execution and delivery of this Note.

  • Change in Control Related Provisions Notwithstanding the provisions of Section 5, in no event shall the aggregate payments or benefits to be made or afforded to Executive under said sections (the “Termination Benefits”) constitute an “excess parachute payment” under Section 280G of the Internal Revenue Code of 1986 or any successor thereto, and in order to avoid such a result, Termination Benefits will be reduced, if necessary, to an amount (the “Non-Triggering Amount”), the value of which is one dollar ($1.00) less than an amount equal to the maximum amount allowable as a deduction by the Bank or Company, as determined in accordance with said Section 280G. The allocation of the reduction required hereby among the Termination Benefits provided by Section 5 shall be determined by Executive.

  • CHANGE OF CONTROL RELATED PROVISIONS Notwithstanding the provisions of Section 5, in no event shall the aggregate payments or benefits to be made or afforded to Executive under said paragraphs (the "Termination Benefits") constitute an "excess parachute payment" under Section 280G of the Internal Revenue Code of 1986, as amended, or any successor thereto, and in order to avoid such a result, Termination Benefits will be reduced, if necessary, to an amount (the "Non-Triggering Amount"), the value of which is one dollar ($1.00) less than an amount equal to three (3) times Executive's "base amount", as determined in accordance with said Section 280G. The allocation of the reduction required hereby among the Termination Benefits provided by Section 5 shall be determined by Executive.

  • Void Provisions If any provision of this Agreement, as applied to either party or to any circumstances, shall be found by a court of competent jurisdiction to be unenforceable but would be enforceable if some part were deleted or the period or area of application were reduced, then such provision shall apply with the modification necessary to make it enforceable, and shall in no way affect any other provision of this Agreement or the validity or enforceability of this Agreement.

  • Vesting Provisions The Options shall become exercisable in five equal installments on each of the first five anniversaries of the Grant Date, subject to the Employee’s continuous employment with Holding or any Subsidiary from the Grant Date to such anniversary.

  • Expiration of Restrictions and Risk of Forfeiture Unless otherwise provided in Section 7 below, the restrictions on the Restricted Stock Units granted pursuant to this Agreement, including the Forfeiture Restrictions, will expire on September 30, 2014, and shares of Stock that are nonforfeitable and transferable will be issued to you in payment of your vested Restricted Stock Units as set forth in Section 5, provided that you remain in the continuous employ of, or a service provider to, the Company or its Subsidiaries until September 30, 2014.

  • Controlling Provisions In the event of any inconsistencies between the provisions of this Amendment and the provisions of any other Loan Document, the provisions of this Amendment shall govern and prevail. Except as expressly modified by this Amendment, the Loan Documents shall not be modified and shall remain in full force and effect.

  • Forfeiture Provisions A. During the period the retirement benefit is payable to the Director under Section 1 of this Agreement, the Director shall not engage in business activities which are in competition with the Association without first obtaining the written consent of the Association.

  • Termination of Related Party Agreements Except as set forth on Schedule 9.7, all existing agreements between the Company and the Stockholders (and between the Company and entities controlled by the Stockholders) shall have been canceled effective prior to or as of the Consummation Date.

  • Other Pertinent Provisions Landlord and Tenant agree that, effective as of the date of this Amendment (unless different effective date(s) is/are specifically referenced in this Section), the Lease shall be amended in the following additional respects:

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